Dove Energy Group Limited (“Dove Energy”) is a regionally-focused company that seeks to generate exceptional returns by investing in lower -risk oil and gas assets held by its subsidiaries, affiliates, or partner companies.
The Group, it’s subsidiaries and affiliates have been involved in upstream oil and gas operations since 1994 with the acquisition of exploration acreage in Yemen. Dove Energy, acting as operator, discovered the Sharyoof Oil Field within its primary asset, Block 53 East Sarr Licence Onshore Yemen in 2000.
In 2008, Dove Energy farmed into the El-Fahs permit onshore Tunisia. Both these licenses are still active. With a range of production and exploration activities, the company is well placed to apply its broad experience to new ventures.
Peak production in our operated fields has exceeded 25,000 barrels of oil per day, and oil production in 2012 averaged 5,400 barrels per day, in which Dove Energy holds a 32.6% paying interest (24.45% equity interest).
Operations have been funded from cash flow since first oil production in 2001. However, a change in funding strategy is planned in order to grow the business by securing and developing new oil & gas fields in the Middle East & North Africa, including Iran.
On 22nd January, 2009, a new holding company was incorporated in the Dubai International Financial Centre (DIFC). The purpose of this company is to provide streamlined Head Office functions for the subsidiaries and to lead growth in the region. The company head office and its leadership have been re-located to the Dubai International Financial Centre in order to pursue the strategy of growth most effectively. The Board and Executive Team have expertise in the full range of oil & gas production operations.
The Group has been privately owned to date but now seeks to attract funds from new investors to stimulate further growth.